Leather performs well for Lanxess

10 November 2010

International chemical maker, Lanxess on November 10 reported third quarter sales of euro 1.85 billion, up 35% year-on-year. Net profit was euro 118 million compared with euro 23 million in 2009.

Lanxess say that sales from synthetic rubber and high-tech plastics were the best performing product activities, particularly in emerging markets (especially Latin America and the BRIC nations), however, the Leather Business Unit also performed well.

Leather, which is part of the Performance Chemicals segment, saw sales grow by 21% year-on-year to achieve euro 515 million in the third quarter. In a company financial statement Lanxess highlight that the Leather, Rubber Chemicals and Functional Chemicals units performed particularly well.

For the business year 2010, Lanxess is targeting EBITDA pre exceptionals of roughly euro 900 million, which is nearly double the earnings result achieved in 2009. As a result of the strong performance expected in 2010, the Board of Management has decided to make a one-off payment to employees totalling euro 20 million.

Axel C Heitmann, Chairman, Lanxess said that he expected growth to continue in the fourth quarter particularly in the tyre and automotive sectors.

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.